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The World Bank report on "<a href="http://www.wionews.com/business-economy/ease-of-doing-business-afghanistan-tops-10-economies-improving-the-most-india-ranked-5th-174715">ease of doing business" ranked New Zealand</a>, Singapore and Denmark as the top-3 nations which displayed "well-designed business regulation".

New Zealand was ranked No-2 last year but this year the Kiwis topped the chart bringing down Singapore which slipped one slot to finish as No-2. Denmark, Hong Kong, South Korea, Georgia, Norway, US and UK made up the top-10 list.

"Singapore continues to be the economy with the most business-friendly regulation," the report said.

"The top three economies this year - New Zealand, Singapore and Denmark - exemplify a business-friendly environment," the World Bank report said, highlighting that continuous and focused reform agenda keeps an economy competitive and vigilant, as others also keep improving.

"Two economies that entered the top-20 this year - the United Arab Emirates and Malaysia - have maintained such a reform momentum," it observed.

"The United Arab Emirates is the highest ranking economy in the Middle East and North Africa region, with reforms captured in four areas. Six reforms in Malaysia were measured by Doing Business, resulting in the second highest regional improvement in the ease of doing business score," the report noted.

"The top 20 economies share a number of international good practices. In the area of starting a business, 13 of these economies have at least one procedure that can be completed online in 0.5 days," it said, while adding, "the electricity distribution utilities in all but one of the top 20 economies use automated tools, allowing for faster, more efficient and more secure restoration of service during power outages."

According to the report, regionally, almost 60 per cent of the top 50 economies were from the OECD high-income group, followed by Europe and Central Asia at 24 per cent and East Asia and the Pacific at 12 per cent.

Interestingly, Pakistan climbed two places at 136 from 138 ranked last year.&nbsp;

Doing Business measures the quality of regulation by analysing whether the regulatory infrastructure needed for a transaction to be successfully completed is in place. Doing Business does not measure the quality of the outcome related to that regulation.&nbsp;

Out of the 189 countries listed, Eritrea was ranked last with Libya, South Sudan, Venezuela and the Central African Republic finishing at the bottom.&nbsp;

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/ZJqOFGaTLug" width="560"></iframe>

The World Bank report on "ease of doing business" ranked New Zealand, Singapore and Denmark as the top-3 nations which displayed "well-designed business regulation".

The World Bank report on "ease of doing business" ranked New Zealand, Singapore and Denmark as the top-3 nations which displayed "well-designed business regulation". New Zealand was ranked No-2 last year but this year the Kiwis topped the chart bringing down Singapore which slipped one slot to finish as No-2. Denmark, Hong Kong, South Korea, Georgia, Norway, US and UK made up the top-10 list. "Singapore continues to be the economy with the most business-friendly regulation," the report said. "The top three economies this year - New Zealand, Singapore and Denmark - exemplify a business-friendly environment," the World Bank report said, highlighting that continuous and focused reform agenda keeps an economy competitive and vigilant, as others also keep improving. "Two economies that entered the top-20 this year - the United Arab Emirates and Malaysia - have maintained such a reform momentum," it observed. "The United Arab Emirates is the highest ranking economy in the Middle East and North Africa region, with reforms captured in four areas. Six reforms in Malaysia were measured by Doing Business, resulting in the second highest regional improvement in the ease of doing business score," the report noted. "The top 20 economies share a number of international good practices. In the area of starting a business, 13 of these economies have at least one procedure that can be completed online in 0.5 days," it said, while adding, "the electricity distribution utilities in all but one of the top 20 economies use automated tools, allowing for faster, more efficient and more secure restoration of service during power outages." According to the report, regionally, almost 60 per cent of the top 50 economies were from the OECD high-income group, followed by Europe and Central Asia at 24 per cent and East Asia and the Pacific at 12 per cent. Interestingly, Pakistan climbed two places at 136 from 138 ranked last year. Doing Business measures the quality of regulation by analysing whether the regulatory infrastructure needed for a transaction to be successfully completed is in place. Doing Business does not measure the quality of the outcome related to that regulation. Out of the 189 countries listed, Eritrea was ranked last with Libya, South Sudan, Venezuela and the Central African Republic finishing at the bottom.

'Ease of doing business': New Zealand, Singapore top list; Pakistan ranked 136th

The BSE benchmark Sensex dropped over 200 points Wednesday amid rising tension between the Reserve Bank of India and the government.

Investor sentiment turned weak in early session on reports that the government may invoke certain provisions to issue directions to the central bank.

The BSE Sensex turned choppy after opening higher and was trading 163.74 points, or 0.48 per cent, lower at 33,727.39. It fell as much as 237.65 points on early trade.

The 30-share index had fallen 176.27 points, or 0.52 per cent, to 33,891.13 in Tuesday's session.

The NSE Nifty saw similar movement, trading 62.55 points, or 0.61 per cent, down at 10,135.85. The bourse had as much dropped 79.95 points in the morning session.

Rumours were rife that the RBI Governor Urjit Patel might offer to resign if Section 7 of RBI Act is invoked to transfer reserves.

Section 7 of the RBI Act empowers the government to consult and give instructions to the governor to act on certain issues that the government considers serious and in public interest.

Tata Steel, Coal India, Bharti Airtel, PowerGrid, NTPC, IndusInd, Adani Ports, ITC, Wipro and Vedanta are among the top losers, falling up to 4 per cent. 
While, Infosys, HDFC Bank, Yes Bank, Hero MotoCorp, Sun Pharma and ONGC were the top gainers, rising up to 2 per cent.

Traders said concerns over RBI governor Urjit Patel's future, after reports suggesting the spat between the central bank and the government worsened, weighed on the market and the rupee.

The rupee dropped by 40 paise to 74.08 against the US dollar in early trade Wednesday.

Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net of Rs 1,592.02 crore Tuesday, and DIIs were net buyers to the tune of Rs 1,363.04 crore, provisional data available with BSE suggested.

Globally, Asian stocks gained taking cues from a rebound on Wall Street.

Japan's Nikkei was trading 1.70 per cent up, Shanghai Composite index rose 1.13 per cent, Hong Kong's Hang Seng rose 0.60 per cent and Taiwan Weighted was up 1.80 per cent in their early sessions.

The Dow Jones Industrial Average jumped 1.77 per cent, the S&amp;P 500 was up 1.57 per cent and the Nasdaq Composite gained 1.58 per cent in Tuesday's session.

The BSE benchmark Sensex dropped over 200 points Wednesday amid rising tension between the Reserve Bank of India and the government. Investor sentiment turned weak in early session on reports that the government may invoke certain provisions to issue directions to the central bank.

The BSE benchmark Sensex dropped over 200 points Wednesday amid rising tension between the Reserve Bank of India and the government. Investor sentiment turned weak in early session on reports that the government may invoke certain provisions to issue directions to the central bank. The BSE Sensex turned choppy after opening higher and was trading 163.74 points, or 0.48 per cent, lower at 33,727.39. It fell as much as 237.65 points on early trade. The 30-share index had fallen 176.27 points, or 0.52 per cent, to 33,891.13 in Tuesday's session. The NSE Nifty saw similar movement, trading 62.55 points, or 0.61 per cent, down at 10,135.85. The bourse had as much dropped 79.95 points in the morning session. Rumours were rife that the RBI Governor Urjit Patel might offer to resign if Section 7 of RBI Act is invoked to transfer reserves. Section 7 of the RBI Act empowers the government to consult and give instructions to the governor to act on certain issues that the government considers serious and in public interest. Tata Steel, Coal India, Bharti Airtel, PowerGrid, NTPC, IndusInd, Adani Ports, ITC, Wipro and Vedanta are among the top losers, falling up to 4 per cent. While, Infosys, HDFC Bank, Yes Bank, Hero MotoCorp, Sun Pharma and ONGC were the top gainers, rising up to 2 per cent. Traders said concerns over RBI governor Urjit Patel's future, after reports suggesting the spat between the central bank and the government worsened, weighed on the market and the rupee. The rupee dropped by 40 paise to 74.08 against the US dollar in early trade Wednesday. Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net of Rs 1,592.02 crore Tuesday, and DIIs were net buyers to the tune of Rs 1,363.04 crore, provisional data available with BSE suggested. Globally, Asian stocks gained taking cues from a rebound on Wall Street. Japan's Nikkei was trading 1.70 per cent up, Shanghai Composite index rose 1.13 per cent, Hong Kong's Hang Seng rose 0.60 per cent and Taiwan Weighted was up 1.80 per cent in their early sessions. The Dow Jones Industrial Average jumped 1.77 per cent, the S&P 500 was up 1.57 per cent and the Nasdaq Composite gained 1.58 per cent in Tuesday's session.

Sensex drops over 200 points, Nifty slips below 10,150

Tata Motors Ltd on Wednesday reported a loss for the three months ended September, dented by weak Jaguar Land Rover sales and a one-off charge in respect to a subsidiary closure.

The automaker made a loss of Rs 10.49 billion ($141.92 million), compared with a profit of Rs 24.83 billion in the year-ago period, the company said.

That was above the street estimate of a loss of Rs 2.40 billion, according to Refinitiv data.

Total expenses during July-September rose 8.6 per cent, while revenue climbed to Rs 712.93 billion from 695.70 billion rupees a year earlier.

Tata Motors Ltd on Wednesday reported a loss for the three months ended September, dented by weak Jaguar Land Rover sales and a one-off charge in respect to a subsidiary closure.

Tata Motors Ltd on Wednesday reported a loss for the three months ended September, dented by weak Jaguar Land Rover sales and a one-off charge in respect to a subsidiary closure. The automaker made a loss of Rs 10.49 billion ($141.92 million), compared with a profit of Rs 24.83 billion in the year-ago period, the company said. That was above the street estimate of a loss of Rs 2.40 billion, according to Refinitiv data. Total expenses during July-September rose 8.6 per cent, while revenue climbed to Rs 712.93 billion from 695.70 billion rupees a year earlier.

Tata Motors reports loss of Rs 1,048.80 crore on weak JLR sales in Q2

India will need around $ 4.5 trillion till 2040 for development of infrastructure sector in the country, Niti Aayog CEO Amitabh Kant said Wednesday.

Kant further said that there is an urgent need to restructure entire existing public-private partnership (PPP) framework as there are delays in the completion of infrastructure projects due to disputes.

“India needs to spend close to around $ 4.5 trillion till 2040 to develop infrastructure in order to really improve overall economic growth and community well being,” he said at an event organised by Dun &amp; Bradstreet (D&amp;B).

Kant pointed out that the government has been focussing on the infrastructure sector.

“Track record of the last four years has shown that all spending in the infrastructure sector across railways, airports and road came from the government,” he said.

Noting that it is better to create infrastructure initially through the government spending, Kant said, “but then as soon as it completes projects, the government must get out of the infrastructure projects because it is extremely poor at operation and maintaining infrastructure projects”.

Kant said India is growing at the rate of 7.5 per cent per annum and the challenge is to grow at higher rates.

“Therefore, the country needs to focus on building quality infrastructure,” he stressed.

Kant also pointed out that the cost of transportation in India is very high.

The Niti Aayog CEO also noted that there is a pressing need of leveraging alternate and newer source of financing of infrastructure projects.

India will need around $ 4.5 trillion till 2040 for development of infrastructure sector in the country, Niti Aayog CEO Amitabh Kant said Wednesday. Kant further said that there is an urgent need to restructure entire existing public-private partnership (PPP) framework as there are delays in the completion of infrastructure projects due to disputes.

India will need around $ 4.5 trillion till 2040 for development of infrastructure sector in the country, Niti Aayog CEO Amitabh Kant said Wednesday. Kant further said that there is an urgent need to restructure entire existing public-private partnership (PPP) framework as there are delays in the completion of infrastructure projects due to disputes. “India needs to spend close to around $ 4.5 trillion till 2040 to develop infrastructure in order to really improve overall economic growth and community well being,” he said at an event organised by Dun & Bradstreet (D&B). Kant pointed out that the government has been focussing on the infrastructure sector. “Track record of the last four years has shown that all spending in the infrastructure sector across railways, airports and road came from the government,” he said. Noting that it is better to create infrastructure initially through the government spending, Kant said, “but then as soon as it completes projects, the government must get out of the infrastructure projects because it is extremely poor at operation and maintaining infrastructure projects”. Kant said India is growing at the rate of 7.5 per cent per annum and the challenge is to grow at higher rates. “Therefore, the country needs to focus on building quality infrastructure,” he stressed. Kant also pointed out that the cost of transportation in India is very high. The Niti Aayog CEO also noted that there is a pressing need of leveraging alternate and newer source of financing of infrastructure projects.

India will need $ 4.5 trillion till 2040 for infrastructure development: Amitabh Kant

The World Bank in its "ease of doing business" <a href="http://www.wionews.com/business-economy/india-jumps-23-positions-to-rank-77-in-world-banks-ease-of-doing-business-ranking-174700">report informed that Afghanistan, Djibouti</a>, China, Azerbaijan and India were the "10 most improved economies" across three or more areas measured.

The report said Afghanistan had climbed over 10 places to rank No-1 in 10 economies improving the most. This means two major South Asian nations dominated the list.

The standard for ease of doing business includes starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.

Apart from Afghanistan, the others in the list included Djibouti at No-2, China at No-3, Azerbaijan at No-4, India at No-5, Togo ranked No-6, Kenya on No-7, Côte d'Ivoire in Africa at No-8, Turkey at No-9 and Rwanda at No-10.

Together, these economies implemented a total of 62 business regulatory reforms across all areas measured by "Doing Business", the report noted. The top-10 countries implemented the most regulatory reforms, the World Bank report said.

Afghanistan scored on starting a business, getting credit, protecting minority investors, paying taxes and resolving insolvency to capture the top slot ahead of India and China.
<img alt="Ease of doing" data-align="center" data-entity-type="file" data-entity-uuid="02df7a03-bd6f-420a-bb6e-365658ffdafd" src="/sites/default/files/inline-images/Ease%20of%20doing%20business_0.JPG" />
Source: worldbank.org

India which finished in 77th place overall was ranked No-5 in the most improved economies list fulling six criteria - starting a business, dealing with construction permits, getting electricity, getting credit, paying taxes and trading across borders.

"India also focused on streamlining business processes. Under its National Trade Facilitation Action Plan 2017-2020, India implemented several initiatives that improved the efficiency of cross-border trade, reducing border and documentary compliance time for both exports and imports," the report observed.&nbsp;

China which finished No-3 behind Afghanistan and Djibouti fulfilled several scales, in fact as many as seven - starting a business, dealing with construction permits, getting electricity, registering property, protecting minority investors, paying taxes and trading across borders.&nbsp;

"The two economies with the largest populations, China and India, demonstrated impressive reform agendas. Both governments took a carefully designed approach to reform, aiming to improve the business regulatory environment over the course of several years," the World Bank report said.

"India also invested in port equipment, strengthened management and improved electronic document flow. By implementing the Single Window Clearance System in Delhi and the Online Building Permit Approval System in Mumbai during the second half of 2017, India also continued to streamline and centralise its construction permitting process," the report said.

The World Bank in its "ease of doing business" report informed that Afghanistan, Djibouti, China, Azerbaijan and India were the "10 most improved economies" across three or more areas measured.

The World Bank in its "ease of doing business" report informed that Afghanistan, Djibouti, China, Azerbaijan and India were the "10 most improved economies" across three or more areas measured. The report said Afghanistan had climbed over 10 places to rank No-1 in 10 economies improving the most. This means two major South Asian nations dominated the list. The standard for ease of doing business includes starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency. Apart from Afghanistan, the others in the list included Djibouti at No-2, China at No-3, Azerbaijan at No-4, India at No-5, Togo ranked No-6, Kenya on No-7, Côte d'Ivoire in Africa at No-8, Turkey at No-9 and Rwanda at No-10. Together, these economies implemented a total of 62 business regulatory reforms across all areas measured by "Doing Business", the report noted. The top-10 countries implemented the most regulatory reforms, the World Bank report said. Afghanistan scored on starting a business, getting credit, protecting minority investors, paying taxes and resolving insolvency to capture the top slot ahead of India and China. Source: worldbank.org India which finished in 77th place overall was ranked No-5 in the most improved economies list fulling six criteria - starting a business, dealing with construction permits, getting electricity, getting credit, paying taxes and trading across borders. "India also focused on streamlining business processes. Under its National Trade Facilitation Action Plan 2017-2020, India implemented several initiatives that improved the efficiency of cross-border trade, reducing border and documentary compliance time for both exports and imports," the report observed. China which finished No-3 behind Afghanistan and Djibouti fulfilled several scales, in fact as many as seven - starting a business, dealing with construction permits, getting electricity, registering property, protecting minority investors, paying taxes and trading across borders. "The two economies with the largest populations, China and India, demonstrated impressive reform agendas. Both governments took a carefully designed approach to reform, aiming to improve the business regulatory environment over the course of several years," the World Bank report said. "India also invested in port equipment, strengthened management and improved electronic document flow. By implementing the Single Window Clearance System in Delhi and the Online Building Permit Approval System in Mumbai during the second half of 2017, India also continued to streamline and centralise its construction permitting process," the report said.

Ease of doing business: Afghanistan tops '10 economies improving the most', India ranked 5th

India on Wednesday ranked at 77th position in the World Bank's 'ease of doing business' index. India has recorded a jump of 23 positions against its rank of 100 in 2017.&nbsp;

The World Bank has recognized India as one of the top improvers for the year.&nbsp;Last year in 2017, India jumped 30 places to rank 100th among 190 nations in World Bank's 'ease of doing business' index. &nbsp;

India has improved its rank by 53 positions in last two years and 65 positions in last four years.

India is the first BRICS and South Asian country to be recognized as top improvers in consecutive years.

India is recognised among top 10 improvers for the 2nd consecutive year. India is now ranked first among South Asian countries compared to 6th rank in 2014.

For the Narendra Modi administration, the development is a welcome news and endorses its reform credentials.

<blockquote>
"When we came to power the PM had said that we have to come within the top 50 ranks. Today, we are at Rank 77. DIPP has worked on how to up the ranking on each criterion. You have to crack the code &amp; try and improve on the criterion in which we lack," said finance minister Arun Jaitley.

"It’s teamwork between Central, state governments. It's collaborative effort and a combination of several interventions that have resulted in improvement into this ‘ease of doing business’ index," said Union Minister Suresh Prabhu.
</blockquote>

“India continued its reform agenda, implementing six reforms in the past year. India is now the region’s top-ranked economy,” the World Bank said, ahead of Bhutan (81) and Sri Lanka (100), Nepal (110), the Maldives (139), Pakistan (136) and Afghanistan (167) and Bangladesh (176).

India has improved its rank in six out of the 10 indicators and has moved closer to international best practices on seven out of 10 indicators.

The World Bank index ranks 190 countries on the basis of 10 indicators, namely starting a business, dealing with construction permits, registering a property, getting credit, getting electricity, trading across borders, resolving insolvency, enforcing contracts, protecting minority investors and paying taxes.

India reduced the time and cost to export and import through various initiatives, including the implementation of electronic sealing of containers, the upgrading of port infrastructure and allowing electronic submission of supporting documents with digital signatures, the World Bank said.

In the World Bank Group’s annual ease of doing business rankings, the top 10 economies are New Zealand, Singapore and Denmark, which retain their first, second and third spots, respectively, for a second consecutive year, followed by Hong Kong SAR, China; Republic of Korea; Georgia; Norway; United States; United Kingdom and FYR Macedonia.&nbsp;

India's performance over the past ten years

2018: Rank 77 
2017: Rank 100 
2016: Rank 130&nbsp; 
2015: Rank 130&nbsp; 
2014: Rank 142 
2013: Rank 134 
2012: Rank 132 
2011: Rank 132 
2010: Rank 134 
2009: Rank 133

(With inputs from agencies)

India on Wednesday ranked at 77th position in the World Bank's 'ease of doing business' index. India has recorded a jump of 23 positions against its rank of 100 in 2017.

India on Wednesday ranked at 77th position in the World Bank's 'ease of doing business' index. India has recorded a jump of 23 positions against its rank of 100 in 2017. The World Bank has recognized India as one of the top improvers for the year. Last year in 2017, India jumped 30 places to rank 100th among 190 nations in World Bank's 'ease of doing business' index. India has improved its rank by 53 positions in last two years and 65 positions in last four years. India is the first BRICS and South Asian country to be recognized as top improvers in consecutive years. India is recognised among top 10 improvers for the 2nd consecutive year. India is now ranked first among South Asian countries compared to 6th rank in 2014. For the Narendra Modi administration, the development is a welcome news and endorses its reform credentials. "When we came to power the PM had said that we have to come within the top 50 ranks. Today, we are at Rank 77. DIPP has worked on how to up the ranking on each criterion. You have to crack the code & try and improve on the criterion in which we lack," said finance minister Arun Jaitley. "It’s teamwork between Central, state governments. It's collaborative effort and a combination of several interventions that have resulted in improvement into this ‘ease of doing business’ index," said Union Minister Suresh Prabhu. “India continued its reform agenda, implementing six reforms in the past year. India is now the region’s top-ranked economy,” the World Bank said, ahead of Bhutan (81) and Sri Lanka (100), Nepal (110), the Maldives (139), Pakistan (136) and Afghanistan (167) and Bangladesh (176). India has improved its rank in six out of the 10 indicators and has moved closer to international best practices on seven out of 10 indicators. The World Bank index ranks 190 countries on the basis of 10 indicators, namely starting a business, dealing with construction permits, registering a property, getting credit, getting electricity, trading across borders, resolving insolvency, enforcing contracts, protecting minority investors and paying taxes. India reduced the time and cost to export and import through various initiatives, including the implementation of electronic sealing of containers, the upgrading of port infrastructure and allowing electronic submission of supporting documents with digital signatures, the World Bank said. In the World Bank Group’s annual ease of doing business rankings, the top 10 economies are New Zealand, Singapore and Denmark, which retain their first, second and third spots, respectively, for a second consecutive year, followed by Hong Kong SAR, China; Republic of Korea; Georgia; Norway; United States; United Kingdom and FYR Macedonia. India's performance over the past ten years 2018: Rank 77 2017: Rank 100 2016: Rank 130 2015: Rank 130 2014: Rank 142 2013: Rank 134 2012: Rank 132 2011: Rank 132 2010: Rank 134 2009: Rank 133 (With inputs from agencies)

India jumps 23 positions to rank 77 in World Bank's 'ease of doing business' ranking

Paring all early losses, benchmark indices Wednesday rebounded after the government said RBI's autonomy was essential but its functioning must be guided by public interest and needs of the economy.

The 30-share Sensex rallied 550.92 points, or 1.63 per cent, to close at 34,442.05, while the broader NSE Nifty surged 188.20 points, or 1.85 per cent, to end above the 10,350 mark at 10,386.60.

"The markets have come through with what would be referred to in technical parlance as a follow-through day, in a classic fashion," said Sunil Sharma, Chief Investment Officer, Sanctum Wealth Management.

"Fundamentally, the market shrugged off worries about tensions between the Reserve Bank of India (RBI) and government that led to a selloff in the morning," he pointed out.

Investor sentiment turned positive after the Finance Ministry issued a statement to dampen concerns over a spat between the government and the central bank.

"The autonomy for the central bank, within the framework of the RBI Act, is an essential and accepted governance requirement. Governments in India have nurtured and respected this," the Finance Ministry said.

Sector-wise, banking, IT, pharma and realty indices drove the market momentum.

Financial sector stocks led the rally, with HDFC adding 162.28 points to the gains on Sensex by surging nearly 6 per cent. IndusInd, Axis Bank, Yes Bank, SBI and ICICI Bank followed suit, gaining up to 4 per cent.

Meanwhile, Coal India, Tata Steel, Maruti, Adani Ports, Kotak Bank, PowerGrid, Bharti Airtel and Hero MotoCorp were among the top losers, falling up to 3 per cent.

With relief rallies across emerging markets and the US, it appears that the market is making a strong attempt at a trend reversal, market analysts said.

The rupee depreciated further to 73.96, leading to strong performance by IT and Pharma, they added.

Elsewhere in Asia, Shanghai Composite ended 1.35 per cent higher, while Hang Seng Index rose 1.60 per cent. Japan's Nikkei closed 2.16 per cent up.

In Europe, DAX was up 1.22 per cent and STOXX50E rose 1.40 per cent.

Paring all early losses, benchmark indices Wednesday rebounded after the government said RBI's autonomy was essential but its functioning must be guided by public interest and needs of the economy.

Paring all early losses, benchmark indices Wednesday rebounded after the government said RBI's autonomy was essential but its functioning must be guided by public interest and needs of the economy. The 30-share Sensex rallied 550.92 points, or 1.63 per cent, to close at 34,442.05, while the broader NSE Nifty surged 188.20 points, or 1.85 per cent, to end above the 10,350 mark at 10,386.60. "The markets have come through with what would be referred to in technical parlance as a follow-through day, in a classic fashion," said Sunil Sharma, Chief Investment Officer, Sanctum Wealth Management. "Fundamentally, the market shrugged off worries about tensions between the Reserve Bank of India (RBI) and government that led to a selloff in the morning," he pointed out. Investor sentiment turned positive after the Finance Ministry issued a statement to dampen concerns over a spat between the government and the central bank. "The autonomy for the central bank, within the framework of the RBI Act, is an essential and accepted governance requirement. Governments in India have nurtured and respected this," the Finance Ministry said. Sector-wise, banking, IT, pharma and realty indices drove the market momentum. Financial sector stocks led the rally, with HDFC adding 162.28 points to the gains on Sensex by surging nearly 6 per cent. IndusInd, Axis Bank, Yes Bank, SBI and ICICI Bank followed suit, gaining up to 4 per cent. Meanwhile, Coal India, Tata Steel, Maruti, Adani Ports, Kotak Bank, PowerGrid, Bharti Airtel and Hero MotoCorp were among the top losers, falling up to 3 per cent. With relief rallies across emerging markets and the US, it appears that the market is making a strong attempt at a trend reversal, market analysts said. The rupee depreciated further to 73.96, leading to strong performance by IT and Pharma, they added. Elsewhere in Asia, Shanghai Composite ended 1.35 per cent higher, while Hang Seng Index rose 1.60 per cent. Japan's Nikkei closed 2.16 per cent up. In Europe, DAX was up 1.22 per cent and STOXX50E rose 1.40 per cent.

Sensex closes 550 points up; Nifty reclaims 10,350 mark

Apple Inc refreshed some of its lower-profile products at a New York event on Tuesday, adding iPhone features like facial recognition to the iPad Pro and faster processors and better displays to some Mac computers that have not had a major update in years.

The Cupertino, California, company introduced new versions of the iPad Pro, its higher-end tablet that competes with Microsoft Corp's Surface, with thinner bezels and more screen space, along with the face unlock system found on Apple's newer iPhones.

Apple said a new version of the Mac Book Air, originally released in 2011, would feature a higher-resolution display and thinner bezels and start at $1,199, hitting stores on November 7.

The company also said the Mac Mini, small desktop customers provide their own display and accessories for, would feature more processing power and memory capacity and start at $799.

Apple introduced new iPhones and Apple Watches last month, but the older product lines accounted for $45 billion in sales in the most recent fiscal quarter. In comparison, iPhones brought in revenue of $141.3 billion.

"They really wanted to show the world they haven't forgotten about the iPad and the Mac," said Mika Kitagawa, a senior principal research analyst at Gartner.

The Mac lineup has been in need of a boost.

In July when Apple reported its most recent quarter, the company had its worst quarter of Mac sales since 2010, with unit volumes down 13 per cent year over year. And iPad unit sales were up only 1 per cent versus a year earlier, and revenue for both was down 5 per cent from the prior year.

But some of that dip in Mac sales was explained by timing - Apple waited to release new Macs until July, when it had in previous years offered them in June. More broadly, Mac sales growth has outpaced the PC market and the iPad has been the most successful tablet in a market that turned out to be smaller than Apple hoped when it released the device in 2010.

While Apple has held prices down on some items like its entry-level iPads for schools, analyst had widely expected it to hold or raise prices for its new laptops and desktop.

With Mac laptops in particular, consumers increasingly use phones or tablets for quick tasks and only turn to a full-fledged computer when they need extra horsepower. Apple is unlikely to cut corners to drop the price of its entry-level laptops, analysts had said.

"With Apple, 'cheap' is always more expensive than everybody else," said Carolina Milanesi, an analyst at Creative Strategies. Apple is likely to pick a price where "you don't feel like you're breaking the bank, but you don't feel like you're compromising your experience."

Apple Inc refreshed some of its lower-profile products at a New York event on Tuesday, adding iPhone features like facial recognition to the iPad Pro and faster processors and better displays to some Mac computers that have not had a major update in years.

Apple Inc refreshed some of its lower-profile products at a New York event on Tuesday, adding iPhone features like facial recognition to the iPad Pro and faster processors and better displays to some Mac computers that have not had a major update in years. The Cupertino, California, company introduced new versions of the iPad Pro, its higher-end tablet that competes with Microsoft Corp's Surface, with thinner bezels and more screen space, along with the face unlock system found on Apple's newer iPhones. Apple said a new version of the Mac Book Air, originally released in 2011, would feature a higher-resolution display and thinner bezels and start at $1,199, hitting stores on November 7. The company also said the Mac Mini, small desktop customers provide their own display and accessories for, would feature more processing power and memory capacity and start at $799. Apple introduced new iPhones and Apple Watches last month, but the older product lines accounted for $45 billion in sales in the most recent fiscal quarter. In comparison, iPhones brought in revenue of $141.3 billion. "They really wanted to show the world they haven't forgotten about the iPad and the Mac," said Mika Kitagawa, a senior principal research analyst at Gartner. The Mac lineup has been in need of a boost. In July when Apple reported its most recent quarter, the company had its worst quarter of Mac sales since 2010, with unit volumes down 13 per cent year over year. And iPad unit sales were up only 1 per cent versus a year earlier, and revenue for both was down 5 per cent from the prior year. But some of that dip in Mac sales was explained by timing - Apple waited to release new Macs until July, when it had in previous years offered them in June. More broadly, Mac sales growth has outpaced the PC market and the iPad has been the most successful tablet in a market that turned out to be smaller than Apple hoped when it released the device in 2010. While Apple has held prices down on some items like its entry-level iPads for schools, analyst had widely expected it to hold or raise prices for its new laptops and desktop. With Mac laptops in particular, consumers increasingly use phones or tablets for quick tasks and only turn to a full-fledged computer when they need extra horsepower. Apple is unlikely to cut corners to drop the price of its entry-level laptops, analysts had said. "With Apple, 'cheap' is always more expensive than everybody else," said Carolina Milanesi, an analyst at Creative Strategies. Apple is likely to pick a price where "you don't feel like you're breaking the bank, but you don't feel like you're compromising your experience."

Apple announces new iPad Pro, MacBook Air; updates Mac Mini

The rupee weakened by 16 paise to 73.61 against the US dollar in early trade Tuesday, amid increased demand of the American currencies from importers and sustained foreign fund outflows.

Traders said the US dollar's strength against some currencies overseas and a lower opening in the domestic equity markets also weighed on the local unit.

At the interbank foreign exchange, after opening lower at 73.58, rupee weakened further to quote at 73.61 against the dollar registering a fall of 16 paise over its pervious close.

The rupee ended almost flat at 73.45 against the US dollar Monday.

The dollar's weakness against some currencies overseas and easing crude oil prices, however, restricted the rupee fall, forex traders said.

Globally, Brent crude, the international benchmark, was trading 0.36 per cent down at USD 77.06 per barrel.

On a net basis, foreign investors pulled out Rs 2,230.79 crore from equity markets Monday, as per provisional data.

Meanwhile, the benchmark BSE Sensex plunged 135.93 points, to 33,931.47 in the opening trade.

The rupee weakened by 16 paise to 73.61 against the US dollar in early trade Tuesday, amid increased demand of the American currencies from importers and sustained foreign fund outflows.

The rupee weakened by 16 paise to 73.61 against the US dollar in early trade Tuesday, amid increased demand of the American currencies from importers and sustained foreign fund outflows. Traders said the US dollar's strength against some currencies overseas and a lower opening in the domestic equity markets also weighed on the local unit. At the interbank foreign exchange, after opening lower at 73.58, rupee weakened further to quote at 73.61 against the dollar registering a fall of 16 paise over its pervious close. The rupee ended almost flat at 73.45 against the US dollar Monday. The dollar's weakness against some currencies overseas and easing crude oil prices, however, restricted the rupee fall, forex traders said. Globally, Brent crude, the international benchmark, was trading 0.36 per cent down at USD 77.06 per barrel. On a net basis, foreign investors pulled out Rs 2,230.79 crore from equity markets Monday, as per provisional data. Meanwhile, the benchmark BSE Sensex plunged 135.93 points, to 33,931.47 in the opening trade.

Rupee falls 16 paise to 73.61 against US dollar in early trade

Benchmark indices opened on a volatile note Tuesday following weak global market cues amid escalating trade tensions between the US and China, and heavy selling by foreign portfolio investors.

The BSE Sensex was trading 31.63 points, or 0.09 per cent, lower at 34,035.77. It had dropped 130.16 points on opening trade.

The 30-share index had rallied 718.09 points, or 2.15 per cent, to 34,067.40 in Monday's session.

The NSE Nifty saw similar movement, and was trading 16.50 points, or 0.16 per cent, lower at 10,234.35. The bourse had opened 43.7 points lower.

IndusInd Bank, Reliance Industries, Coal India, Tata Steel, TCS, ITC, NPTC and L&amp;T were among the top losers, falling up to 2 per cent.

While, Yes Bank, SBI, M&amp;M, Tata Motors, Bajaj Auto, Bharti Airtel and Infosys rose up to 4 per cent.

Global investor sentiment turned volatile after reports that the United States was preparing to announce tariffs on all remaining Chinese imports by early

December if talks next month between presidents Donald Trump and Xi Jinping fail to ease the trade war.

Traders also took cues from foreign portfolio investors (FPIs), who sold shares worth a net of Rs 2,230.79 crore Monday.

Meanwhile, domestic institutional investors (DIIs) were net buyers to the tune of Rs 2,526.90 crore, provisional data available with stock exchanges showed.&nbsp;

The rupee also witnessed weakness, falling 16 paise to 73.61 against the US dollar in early trade, amid increased demand of the American currencies from importers and sustained foreign fund outflows.

Elsewhere in Asia, Japan's Nikkei was trading 1.59 per cent up, Shanghai Composite index rose 0.72 per cent, while Hong Kong's Hang Seng dropped 0.04 per cent and Taiwan Weighted was down 0.02 per cent in their early sessions. &nbsp;

The Dow Jones Industrial Average fell 0.48 per cent, the S&amp;P 500 lost 0.19 per cent and the Nasdaq Composite dropped 1.14 per cent in Monday's session.&nbsp;

Benchmark indices opened on a volatile note Tuesday following weak global market cues amid escalating trade tensions between the US and China, and heavy selling by foreign portfolio investors.

Benchmark indices opened on a volatile note Tuesday following weak global market cues amid escalating trade tensions between the US and China, and heavy selling by foreign portfolio investors. The BSE Sensex was trading 31.63 points, or 0.09 per cent, lower at 34,035.77. It had dropped 130.16 points on opening trade. The 30-share index had rallied 718.09 points, or 2.15 per cent, to 34,067.40 in Monday's session. The NSE Nifty saw similar movement, and was trading 16.50 points, or 0.16 per cent, lower at 10,234.35. The bourse had opened 43.7 points lower. IndusInd Bank, Reliance Industries, Coal India, Tata Steel, TCS, ITC, NPTC and L&T were among the top losers, falling up to 2 per cent. While, Yes Bank, SBI, M&M, Tata Motors, Bajaj Auto, Bharti Airtel and Infosys rose up to 4 per cent. Global investor sentiment turned volatile after reports that the United States was preparing to announce tariffs on all remaining Chinese imports by early December if talks next month between presidents Donald Trump and Xi Jinping fail to ease the trade war. Traders also took cues from foreign portfolio investors (FPIs), who sold shares worth a net of Rs 2,230.79 crore Monday. Meanwhile, domestic institutional investors (DIIs) were net buyers to the tune of Rs 2,526.90 crore, provisional data available with stock exchanges showed. The rupee also witnessed weakness, falling 16 paise to 73.61 against the US dollar in early trade, amid increased demand of the American currencies from importers and sustained foreign fund outflows. Elsewhere in Asia, Japan's Nikkei was trading 1.59 per cent up, Shanghai Composite index rose 0.72 per cent, while Hong Kong's Hang Seng dropped 0.04 per cent and Taiwan Weighted was down 0.02 per cent in their early sessions. The Dow Jones Industrial Average fell 0.48 per cent, the S&P 500 lost 0.19 per cent and the Nasdaq Composite dropped 1.14 per cent in Monday's session.

Sensex, Nifty turn choppy on weak global cues, FPI selloff

Fuel prices in the national capital dropped for the thirteenth consecutive day on Tuesday as petrol prices stood at Rs 79.55 per litre, down by Rs 0.20 paise, and diesel prices at Rs. 73.73, down by Rs 0.07 paise.

In Mumbai, petrol and diesel prices today were recorded at Rs 85.04 per litre, down by Rs 0.20, and Rs 77.32 per litre, down by Rs 0.08, respectively.

<div class="ui-state-default" contenteditable="false">
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Petrol &amp; diesel prices in <a href="https://twitter.com/hashtag/Delhi?src=hash&amp;ref_src=twsrc%5Etfw">#Delhi</a> today are Rs 79.55 per litre (decrease by Rs 0.20) &amp; Rs 73.78 per litre (decrease by Rs 0.07),respectively. Petrol &amp; diesel prices in <a href="https://twitter.com/hashtag/Mumbai?src=hash&amp;ref_src=twsrc%5Etfw">#Mumbai</a> today are Rs 85.04 per litre(decrease by Rs 0.20) &amp;Rs 77.32 per litre (decrease by Rs 0.08), respectively <a href="https://t.co/YPLiifxBMg">pic.twitter.com/YPLiifxBMg</a>
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Before fuel rates started falling on October 18, petrol and diesel prices had touched unprecedented levels across the country. While petrol touched a record high of Rs 84 per litre, diesel prices went up to Rs 75.45 a litre in Delhi on October 4.

The fuel rate in the country is revised every single day based on global oil prices. State-run oil marketing companies Indian Oil, Bharat Petroleum and Hindustan Petroleum revise the prices with effect from 6 am on a daily basis.&nbsp;

The government allowed revision of fuel rates on a daily basis since mid-June last year to reflect changes in costs instantly.&nbsp;

After crossing US $86 per barrel, Brent crude oil prices have eased. Last week, Brent crude oil came down below $76 per barrel.&nbsp;

According to Bloomberg, Brent crude was selling at US $77.58 per barrel on Monday. 
&nbsp;

Fuel prices in the national capital dropped for the thirteenth consecutive day on Tuesday as petrol prices stood at Rs 79.55 per litre, down by Rs 0.20 paise, and diesel prices at Rs.

Fuel prices in the national capital dropped for the thirteenth consecutive day on Tuesday as petrol prices stood at Rs 79.55 per litre, down by Rs 0.20 paise, and diesel prices at Rs. 73.73, down by Rs 0.07 paise. In Mumbai, petrol and diesel prices today were recorded at Rs 85.04 per litre, down by Rs 0.20, and Rs 77.32 per litre, down by Rs 0.08, respectively. Petrol & diesel prices in #Delhi today are Rs 79.55 per litre (decrease by Rs 0.20) & Rs 73.78 per litre (decrease by Rs 0.07),respectively. Petrol & diesel prices in #Mumbai today are Rs 85.04 per litre(decrease by Rs 0.20) &Rs 77.32 per litre (decrease by Rs 0.08), respectively pic.twitter.com/YPLiifxBMg — ANI (@ANI) October 30, 2018 × Before fuel rates started falling on October 18, petrol and diesel prices had touched unprecedented levels across the country. While petrol touched a record high of Rs 84 per litre, diesel prices went up to Rs 75.45 a litre in Delhi on October 4. The fuel rate in the country is revised every single day based on global oil prices. State-run oil marketing companies Indian Oil, Bharat Petroleum and Hindustan Petroleum revise the prices with effect from 6 am on a daily basis. The government allowed revision of fuel rates on a daily basis since mid-June last year to reflect changes in costs instantly. After crossing US $86 per barrel, Brent crude oil prices have eased. Last week, Brent crude oil came down below $76 per barrel. According to Bloomberg, Brent crude was selling at US $77.58 per barrel on Monday.

Fuel prices continue to drop, petrol at Rs 79.55 per litre in Delhi

The country's largest lender SBI has halved the daily cash withdrawal limit from ATMs for certain debit-card holders to Rs 20,000 from Wednesday.

The withdrawal limit has been curtailed on Classic and Maestro debit cards, held by a large number of the bank customers.

However, customers with other variants of SBI debit card can continue to enjoy higher daily withdrawal from ATMs.

As per a senior SBI official, the average cash withdrawal from ATMs per card is less than Rs 20,000 and the move will help in checking frauds and promote digital transaction.

About a month ago, the State Bank of India (SBI) had alerted its customers holding Classic and Maestro debit cards regarding the reduction of cash withdrawal limit to Rs 20,000 a day from ATM starting October 31.

The SBI had put out the following message on its website: "Daily cash withdrawal limit for Classic and Maestro debit cards has been reduced from Rs 40,000 to Rs 20,000 per day with effect from October 31. If you require higher daily cash withdrawal limit, please apply for a higher card variant."

SBI Managing Director PK Gupta had said the reduction in withdrawal intends to protect customers from fraudulent cash withdrawals from ATMs and also to spur more digital transactions.

"We analysed all the ATM transactions and we found that most of them are less than Rs 20,000 a day. In case of frauds reported to us, we found that in all such cases withdrawals of Rs 40,000 (the maximum) have happened. So, this is basically to protect the customers and secondly, we want that more digital transactions should happen," Gupta had said.

If any customer wants a higher limit of cash withdrawal, he or she can ask for a higher variant card.

When asked how many such customers/cards are to be impacted due to this reduced limit, he said a very large number of customers fall into this category.

However, the bank has lots of customers with a higher variant debit card, so they are not impacted.

The country's largest lender SBI has halved the daily cash withdrawal limit from ATMs for certain debit-card holders to Rs 20,000 from Wednesday. The withdrawal limit has been curtailed on Classic and Maestro debit cards, held by a large number of the bank customers.

The country's largest lender SBI has halved the daily cash withdrawal limit from ATMs for certain debit-card holders to Rs 20,000 from Wednesday. The withdrawal limit has been curtailed on Classic and Maestro debit cards, held by a large number of the bank customers. However, customers with other variants of SBI debit card can continue to enjoy higher daily withdrawal from ATMs. As per a senior SBI official, the average cash withdrawal from ATMs per card is less than Rs 20,000 and the move will help in checking frauds and promote digital transaction. About a month ago, the State Bank of India (SBI) had alerted its customers holding Classic and Maestro debit cards regarding the reduction of cash withdrawal limit to Rs 20,000 a day from ATM starting October 31. The SBI had put out the following message on its website: "Daily cash withdrawal limit for Classic and Maestro debit cards has been reduced from Rs 40,000 to Rs 20,000 per day with effect from October 31. If you require higher daily cash withdrawal limit, please apply for a higher card variant." SBI Managing Director PK Gupta had said the reduction in withdrawal intends to protect customers from fraudulent cash withdrawals from ATMs and also to spur more digital transactions. "We analysed all the ATM transactions and we found that most of them are less than Rs 20,000 a day. In case of frauds reported to us, we found that in all such cases withdrawals of Rs 40,000 (the maximum) have happened. So, this is basically to protect the customers and secondly, we want that more digital transactions should happen," Gupta had said. If any customer wants a higher limit of cash withdrawal, he or she can ask for a higher variant card. When asked how many such customers/cards are to be impacted due to this reduced limit, he said a very large number of customers fall into this category. However, the bank has lots of customers with a higher variant debit card, so they are not impacted.

Rs 20,000 withdrawal limit for SBI customers effective from October 31

WION Wallet: Indian market trade in red, rupee ends at 73.67 to dollar

WION Melt | John Seifert in conversation with Anant Rangaswami- Part 2

WION Melt | John Seifert in conversation with Anant Rangaswami- Part 1

The BSE Sensex on Tuesday fell over 176 points on emergence of heavy selloffs mainly in financial and energy sector stocks as caution prevailed among market participants in view of mixed quarterly earnings and upcoming trade tariff talks between the US and China.&nbsp;

The 30-share benchmark index fell 176.27 points, or 0.52 per cent, to close at 33,891.13, while the broader NSE Nifty lost 52.45 points, or 0.51 per cent, to end at 10,198.40.&nbsp;

Markets globally are keenly awaiting the US response next month how it goes with tariffs on all remaining Chinese imports. Besides, mixed corporate earnings so far did not help in sustaining last session's positivity on the domestic bourses. The benchmark indices Sensex and Nifty Monday rose over 718 points and 220 points, respectively.&nbsp;

Global markets continue to witness mixed activity with a negative bias and volatility remains high as the market struggle to find its bottom and define the further course.

"Weak global cues and selling pressure in stocks that unveiled below expected results dragged the indices. Drop in oil prices will provide leeway to maintain support in the market while triggers like upcoming trade talks between the US and China give more cues to investors," Vinod Nair, Head of Research, Geojit Financial Services Ltd, said.&nbsp;

In the Sensex pack, index heavyweight Reliance Industries fell 2.84 per cent to Rs 1,057.15 after reports that the company's oil assets may take a hit due to the government's imposition of cost controls on soaring petrol and diesel prices.

Other top losers were IndusInd Bank, HDFC, HDFC Bank, Kotak Bank, Coal India and Sun Pharma, falling up to 3.5 per cent. While, Infosys, HUL, SBI, TCS and Tata Motors bucked the weak market trend and rose up to 2.48 per cent. Mid and smallcap shares outperformed larger peers as the BSE MidCap and SmallCap indices rose nearly 1 per cent each.&nbsp;

Shares of sugar manufacturers jumped up to 10 per cent during the session after industry body ISMA said sugar output may fall by 3 per cent to 31.5 million tonnes in the current marketing year due to untimely rains and pest attacks on cane crop.&nbsp;

Oil prices fell marginally on Tuesday. Brent crude oil futures were down 11 cents at USD 76.75 a barrel.

Elsewhere in Asia, Shanghai Composite ended 1.02 per cent higher, while Hang Seng Index fell 0.91 per cent. Japan's Nikkei closed 1.45 per cent up. In Europe, DAX was down 0.37 per cent and STOXX50E rose 0.27 per cent.

The BSE Sensex on Tuesday fell over 176 points on emergence of heavy selloffs mainly in financial and energy sector stocks as caution prevailed among market participants in view of mixed quarterly earnings and upcoming trade tariff talks between the US and China.

The BSE Sensex on Tuesday fell over 176 points on emergence of heavy selloffs mainly in financial and energy sector stocks as caution prevailed among market participants in view of mixed quarterly earnings and upcoming trade tariff talks between the US and China. The 30-share benchmark index fell 176.27 points, or 0.52 per cent, to close at 33,891.13, while the broader NSE Nifty lost 52.45 points, or 0.51 per cent, to end at 10,198.40. Markets globally are keenly awaiting the US response next month how it goes with tariffs on all remaining Chinese imports. Besides, mixed corporate earnings so far did not help in sustaining last session's positivity on the domestic bourses. The benchmark indices Sensex and Nifty Monday rose over 718 points and 220 points, respectively. Global markets continue to witness mixed activity with a negative bias and volatility remains high as the market struggle to find its bottom and define the further course. "Weak global cues and selling pressure in stocks that unveiled below expected results dragged the indices. Drop in oil prices will provide leeway to maintain support in the market while triggers like upcoming trade talks between the US and China give more cues to investors," Vinod Nair, Head of Research, Geojit Financial Services Ltd, said. In the Sensex pack, index heavyweight Reliance Industries fell 2.84 per cent to Rs 1,057.15 after reports that the company's oil assets may take a hit due to the government's imposition of cost controls on soaring petrol and diesel prices. Other top losers were IndusInd Bank, HDFC, HDFC Bank, Kotak Bank, Coal India and Sun Pharma, falling up to 3.5 per cent. While, Infosys, HUL, SBI, TCS and Tata Motors bucked the weak market trend and rose up to 2.48 per cent. Mid and smallcap shares outperformed larger peers as the BSE MidCap and SmallCap indices rose nearly 1 per cent each. Shares of sugar manufacturers jumped up to 10 per cent during the session after industry body ISMA said sugar output may fall by 3 per cent to 31.5 million tonnes in the current marketing year due to untimely rains and pest attacks on cane crop. Oil prices fell marginally on Tuesday. Brent crude oil futures were down 11 cents at USD 76.75 a barrel. Elsewhere in Asia, Shanghai Composite ended 1.02 per cent higher, while Hang Seng Index fell 0.91 per cent. Japan's Nikkei closed 1.45 per cent up. In Europe, DAX was down 0.37 per cent and STOXX50E rose 0.27 per cent.

Sensex closes 176 points lower, Nifty ends below 10,200

Indian markets opened in green on Monday with BSE Sensex registering an increase of 175.16 points at 33,524.

Nifty50, on the other hand, opened at 10,076, up by 46.95 points from the last week closing.

Positive trend appeared in some sector led by Infra and Auto, while mixed movements were seen in the banking stocks.

Meanwhile, the rupee recovered by 14 paise to 73.33 against the US currency in early trade Monday.

The 30-share index Friday tumbled 340.78 points to end at a seven-month low of 33,349.31, while the broader NSE Nifty had slipped 94.90 points to 10,030.00.

(With inputs from PTI)

Indian markets opened in green on Monday with BSE Sensex registering an increase of 175.16 points at 33,524. Nifty50, on the other hand, opened at 10,076, up by 46.

Indian markets opened in green on Monday with BSE Sensex registering an increase of 175.16 points at 33,524. Nifty50, on the other hand, opened at 10,076, up by 46.95 points from the last week closing. Positive trend appeared in some sector led by Infra and Auto, while mixed movements were seen in the banking stocks. Meanwhile, the rupee recovered by 14 paise to 73.33 against the US currency in early trade Monday. The 30-share index Friday tumbled 340.78 points to end at a seven-month low of 33,349.31, while the broader NSE Nifty had slipped 94.90 points to 10,030.00. (With inputs from PTI)

Markets open in green, Sensex up by 175.16 points at 33,524

The rupee recovered by 14 paise to 73.33 against the US currency in early trade Monday, on fresh dollar selling by exporters and higher opening in the domestic equity markets.

At the Interbank Foreign Exchange, the rupee opened up at 73.33 to quote 14 paise higher over its previous closing, on increased selling of the American currency by exporters and banks.

On Friday, the rupee had depreciated by 20 paise to close at 73.47 against the US dollar.

Forex dealers said, weakness in the dollar against a few currencies overseas and easing crude prices gave some support to the local unit.

Globally, Brent crude, the international benchmark, was trading 0.05 per cent down at US $77.58 per barrel.

The benchmark BSE Sensex started the session on a positive note up by 200.57 points at 33,549.88 in opening trade Monday.

On a net basis, foreign funds pulled out Rs 1,356.66 crore from the capital markets on a net basis, while domestic institutional investors bought shares worth Rs 1,875.89 crore Friday, provisional data showed.

The rupee recovered by 14 paise to 73.33 against the US currency in early trade Monday, on fresh dollar selling by exporters and higher opening in the domestic equity markets.

The rupee recovered by 14 paise to 73.33 against the US currency in early trade Monday, on fresh dollar selling by exporters and higher opening in the domestic equity markets. At the Interbank Foreign Exchange, the rupee opened up at 73.33 to quote 14 paise higher over its previous closing, on increased selling of the American currency by exporters and banks. On Friday, the rupee had depreciated by 20 paise to close at 73.47 against the US dollar. Forex dealers said, weakness in the dollar against a few currencies overseas and easing crude prices gave some support to the local unit. Globally, Brent crude, the international benchmark, was trading 0.05 per cent down at US $77.58 per barrel. The benchmark BSE Sensex started the session on a positive note up by 200.57 points at 33,549.88 in opening trade Monday. On a net basis, foreign funds pulled out Rs 1,356.66 crore from the capital markets on a net basis, while domestic institutional investors bought shares worth Rs 1,875.89 crore Friday, provisional data showed.

Rupee gains 14 paise to 73.33 against US dollar in early trade

The stock market indices made a strong comeback on Monday.

The S&amp;P BSE Sensex jumped 718 points or 2.15 per cent to settle at 34,067while NSE's Nifty50 index reclaimed the 10,250 mark to end at 10,251, up 221 points or 2.20 per cent.&nbsp;

ICICI Bank, up 10.7 per cent at its highest close since Jan. 31, was the biggest boost to the index. The lender reported an improvement in asset quality in the second quarter on Friday.

Indiabulls Housing Finance Ltd surged 12.8 per cent while the Nifty PSU Bank index was up 8 per cent, driven by an 8 per cent jump in public-sector lending giant State Bank of India.

Meanwhile, In the afternoon trade, front-month Brent crude oil futures were trading down 46 cents, or 0.6 per cent, at $77.16 a barrel at while US West Texas Intermediate (WTI) crude futures were at $67.19 a barrel, down 40 cents, or 0.6 per cent, Reuters reported.&nbsp;

Rupee, on Monday, traded 18 paise higher at 73.29 against the US dollar after ending 20 paise lower at 73.47 on Friday.

A turnaround in global cues gave hope to investors at home. European shares opened in positive territory on Monday in a tentative rebound from a sell-off, Reuters reported.

The stock market indices made a strong comeback on Monday. The S&P BSE Sensex jumped 718 points or 2.15 per cent to settle at 34,067while NSE's Nifty50 index reclaimed the 10,250 mark to end at 10,251, up 221 points or 2.

The stock market indices made a strong comeback on Monday. The S&P BSE Sensex jumped 718 points or 2.15 per cent to settle at 34,067while NSE's Nifty50 index reclaimed the 10,250 mark to end at 10,251, up 221 points or 2.20 per cent. ICICI Bank, up 10.7 per cent at its highest close since Jan. 31, was the biggest boost to the index. The lender reported an improvement in asset quality in the second quarter on Friday. Indiabulls Housing Finance Ltd surged 12.8 per cent while the Nifty PSU Bank index was up 8 per cent, driven by an 8 per cent jump in public-sector lending giant State Bank of India. Meanwhile, In the afternoon trade, front-month Brent crude oil futures were trading down 46 cents, or 0.6 per cent, at $77.16 a barrel at while US West Texas Intermediate (WTI) crude futures were at $67.19 a barrel, down 40 cents, or 0.6 per cent, Reuters reported. Rupee, on Monday, traded 18 paise higher at 73.29 against the US dollar after ending 20 paise lower at 73.47 on Friday. A turnaround in global cues gave hope to investors at home. European shares opened in positive territory on Monday in a tentative rebound from a sell-off, Reuters reported.

Sensex rallies 718 points; Nifty50 ends above 10,250

Flipkart India, the B2B arm of the e-commerce major Flipkart, has registered a manifold jump in losses at Rs 2,063.8 crore during 2017-18 compared to the previous fiscal as the Walmart-backed company fights a bruising battle against rival Amazon.

The company's total loss stood at Rs 245.04 crore in 2016-17.&nbsp;

Its revenue from operations, however, saw a 40.4 per cent jump to Rs 21,438.65 crore in FY2017-18 from Rs 15,264.42 crore in the previous fiscal, as per regulatory documents filed with the corporate affairs ministry.

Flipkart India's employee benefit expenses grew to Rs 331.54 crore in the said fiscal from Rs 166.66 crore in 2016-17, the documents provided by business intelligence platform Tofler showed.

Flipkart's e-commerce business Flipkart Internet also posted a consolidate loss of Rs 1,160.6 crore for the financial year ended March 2018. While this was lower than the previous year's Rs 1,640.2 crore.&nbsp;

The combined loss of the two Flipkart entities -- Flipkart India and Flipkart Internet -- was well over Rs 3,200 crore in FY2017-18.

Flipkart's holding company is registered in Singapore. It operates different entities for various functions, and provides e-commerce and support services through Flipkart Internet. The revenue of Flipkart Internet is mainly generated from services like collection, marketplace, storage and logistics.

Flipkart and its rival Amazon have been pumping in millions of dollars towards promotions, building infrastructure and logistics as they woo customers to shop online.

Amazon, on its part, has also been aggressively investing in the Indian market across its e-commerce, payment and logistics operations. It had committed $5 billion to the Indian operations and a large part of that has already been pumped in.

Earlier in the year, Flipkart inked a blockbuster deal with Walmart under which the American retailer picked up about 77 per cent stake for about $16 billion. The deal gave handsome return to investors like SoftBank which sold their complete shareholding.

The deal with Flipkart will also have a bearing on Walmart's financials. Earlier this month, the US retail giant had said its investment in Flipkart will hit its operating income as well as earnings per share.

The transaction with Flipkart, which was completed in August this year, will not only help Walmart strengthen its e-commerce play but also cash in on the burgeoning e-tailing market in India that is poised to touch $ 200 billion in the next few years.&nbsp;

Flipkart India, the B2B arm of the e-commerce major Flipkart, has registered a manifold jump in losses at Rs 2,063.8 crore during 2017-18 compared to the previous fiscal as the Walmart-backed company fights a bruising battle against rival Amazon.

Flipkart India, the B2B arm of the e-commerce major Flipkart, has registered a manifold jump in losses at Rs 2,063.8 crore during 2017-18 compared to the previous fiscal as the Walmart-backed company fights a bruising battle against rival Amazon. The company's total loss stood at Rs 245.04 crore in 2016-17. Its revenue from operations, however, saw a 40.4 per cent jump to Rs 21,438.65 crore in FY2017-18 from Rs 15,264.42 crore in the previous fiscal, as per regulatory documents filed with the corporate affairs ministry. Flipkart India's employee benefit expenses grew to Rs 331.54 crore in the said fiscal from Rs 166.66 crore in 2016-17, the documents provided by business intelligence platform Tofler showed. Flipkart's e-commerce business Flipkart Internet also posted a consolidate loss of Rs 1,160.6 crore for the financial year ended March 2018. While this was lower than the previous year's Rs 1,640.2 crore. The combined loss of the two Flipkart entities -- Flipkart India and Flipkart Internet -- was well over Rs 3,200 crore in FY2017-18. Flipkart's holding company is registered in Singapore. It operates different entities for various functions, and provides e-commerce and support services through Flipkart Internet. The revenue of Flipkart Internet is mainly generated from services like collection, marketplace, storage and logistics. Flipkart and its rival Amazon have been pumping in millions of dollars towards promotions, building infrastructure and logistics as they woo customers to shop online. Amazon, on its part, has also been aggressively investing in the Indian market across its e-commerce, payment and logistics operations. It had committed $5 billion to the Indian operations and a large part of that has already been pumped in. Earlier in the year, Flipkart inked a blockbuster deal with Walmart under which the American retailer picked up about 77 per cent stake for about $16 billion. The deal gave handsome return to investors like SoftBank which sold their complete shareholding. The deal with Flipkart will also have a bearing on Walmart's financials. Earlier this month, the US retail giant had said its investment in Flipkart will hit its operating income as well as earnings per share. The transaction with Flipkart, which was completed in August this year, will not only help Walmart strengthen its e-commerce play but also cash in on the burgeoning e-tailing market in India that is poised to touch $ 200 billion in the next few years.

Flipkart India losses widen to Rs 2,063.8 crore in FY18

India's financial markets rose on Monday, shrugging off concerns about a growing spat between the central bank and the government and preferring to take solace from plans for a big liquidity injection by the bank.

On Friday night, Reserve Bank of India (RBI) Deputy Governor Viral Acharya warned that undermining a central bank's independence could be "<a href="http://www.wionews.com/india-news/a-govt-that-does-not-respect-rbis-independence-will-incur-wrath-of-markets-rbi-deputy-governor-173752">potentially catastrophic</a>", in an indication that it is pushing back hard against government pressure to relax its policies and reduce its powers ahead of a general election due by next May.

Also read:&nbsp;<a href="http://www.wionews.com/opinions/markets-need-rbis-assurance-169531">Markets need RBI’s assurance</a>

But India's bonds, rupee and stock markets all gained on Monday as they took their lead from the RBI's announcement, slightly before Acharya's speech, that it will buy 400 billion rupees ($5.45 billion) of government bonds via open-market operations in November as it seeks to inject liquidity into the market.

The injection comes amid worries about a credit crunch after defaults at a major infrastructure financing company.

The 10-year benchmark bond yield fell to 7.80 per cent, its lowest since Aug. 14 and compared with 7.88 per cent on Friday.

The rupee rose as much as 73.32 to the dollar compared to Friday's close of 73.46, while the benchmark stock index was up 0.8 per cent.

In the speech to top industrialists, Acharya cited the Argentine government's meddling in its central bank's affairs in 2010 as an example of what can go wrong. That led to an investor revolt and a surge in bond yields, badly hurting its economy.

"Governments that do not respect central bank independence will sooner or later incur the wrath of financial markets, ignite economic fire, and come to rue the day they undermined an important regulatory institution," he said.

The speech was a counter to government efforts to relax policies and curtail some powers of the central bank, further opening a rift between the RBI and Prime Minister Narendra Modi's government.

While government officials have remained largely silent in response to the speech, the issues raised by the RBI top brass -- including the government asking for higher profits from the central bank to fund its fiscal deficit -- have been well-known for years.

Traders said the markets' reaction didn't mean that they weren't watching the government-central bank relationship closely and warily.

"While the points laid down by RBI are not new, as an investor it is important to see whether the government resorts to funding its fiscal deficit by forcing the central bank to transfer more money from its reserves or not," said a foreign bank trader, adding that such "short-cuts" could hit investor sentiment.

Others were hopeful that the row would be resolved.

"If people start questioning Modi on the transparency and independence of the central bank, he might ask his officials to come to a mutual agreement with the RBI," said Ashish Vaidya, managing director and head of trading, money markets at DBS Bank in India. He said eventually a "middle ground will be arrived".

India's financial markets rose on Monday, shrugging off concerns about a growing spat between the central bank and the government and preferring to take solace from plans for a big liquidity injection by the bank.

India's financial markets rose on Monday, shrugging off concerns about a growing spat between the central bank and the government and preferring to take solace from plans for a big liquidity injection by the bank. On Friday night, Reserve Bank of India (RBI) Deputy Governor Viral Acharya warned that undermining a central bank's independence could be "potentially catastrophic", in an indication that it is pushing back hard against government pressure to relax its policies and reduce its powers ahead of a general election due by next May. Also read: Markets need RBI’s assurance But India's bonds, rupee and stock markets all gained on Monday as they took their lead from the RBI's announcement, slightly before Acharya's speech, that it will buy 400 billion rupees ($5.45 billion) of government bonds via open-market operations in November as it seeks to inject liquidity into the market. The injection comes amid worries about a credit crunch after defaults at a major infrastructure financing company. The 10-year benchmark bond yield fell to 7.80 per cent, its lowest since Aug. 14 and compared with 7.88 per cent on Friday. The rupee rose as much as 73.32 to the dollar compared to Friday's close of 73.46, while the benchmark stock index was up 0.8 per cent. In the speech to top industrialists, Acharya cited the Argentine government's meddling in its central bank's affairs in 2010 as an example of what can go wrong. That led to an investor revolt and a surge in bond yields, badly hurting its economy. "Governments that do not respect central bank independence will sooner or later incur the wrath of financial markets, ignite economic fire, and come to rue the day they undermined an important regulatory institution," he said. The speech was a counter to government efforts to relax policies and curtail some powers of the central bank, further opening a rift between the RBI and Prime Minister Narendra Modi's government. While government officials have remained largely silent in response to the speech, the issues raised by the RBI top brass -- including the government asking for higher profits from the central bank to fund its fiscal deficit -- have been well-known for years. Traders said the markets' reaction didn't mean that they weren't watching the government-central bank relationship closely and warily. "While the points laid down by RBI are not new, as an investor it is important to see whether the government resorts to funding its fiscal deficit by forcing the central bank to transfer more money from its reserves or not," said a foreign bank trader, adding that such "short-cuts" could hit investor sentiment. Others were hopeful that the row would be resolved. "If people start questioning Modi on the transparency and independence of the central bank, he might ask his officials to come to a mutual agreement with the RBI," said Ashish Vaidya, managing director and head of trading, money markets at DBS Bank in India. He said eventually a "middle ground will be arrived".

Markets rise 500 points on RBI's Rs 40,000 crore liquidity plan

Qualcomm Inc said in a court hearing on Friday that Apple Inc is $7 billion behind in patent royalty payments to the mobile chip firm, which for years supplied parts for the iPhone.

Apple and Qualcomm are involved in a series legal actions. Apple has accused Qualcomm of unfair patent licensing practices. Qualcomm, the world's largest mobile phone chip supplier, has in turn accused Apple of patent infringement.

Qualcomm made its comments about the size of Apple's unpaid royalties in a hearing in one of the cases in federal court in San Diego. Apple has disputed the amount of royalties that it owes to Qualcomm.

Apple has argued that Qualcomm is forcing it to pay for the same patents twice, once when Apple uses Qualcomm's chip in iPhones and then again through patent royalties. Qualcomm has argued that its practices are legal and that Apple is seeking to destroy Qualcomm's business model after agreeing to it for years.

Qualcomm Inc said in a court hearing on Friday that Apple Inc is $7 billion behind in patent royalty payments to the mobile chip firm, which for years supplied parts for the iPhone.

Qualcomm Inc said in a court hearing on Friday that Apple Inc is $7 billion behind in patent royalty payments to the mobile chip firm, which for years supplied parts for the iPhone. Apple and Qualcomm are involved in a series legal actions. Apple has accused Qualcomm of unfair patent licensing practices. Qualcomm, the world's largest mobile phone chip supplier, has in turn accused Apple of patent infringement. Qualcomm made its comments about the size of Apple's unpaid royalties in a hearing in one of the cases in federal court in San Diego. Apple has disputed the amount of royalties that it owes to Qualcomm. Apple has argued that Qualcomm is forcing it to pay for the same patents twice, once when Apple uses Qualcomm's chip in iPhones and then again through patent royalties. Qualcomm has argued that its practices are legal and that Apple is seeking to destroy Qualcomm's business model after agreeing to it for years.

Qualcomm says Apple $7 billion behind in royalty payments

The benchmark Sensex plunged over 297 points and the broader NSE Nifty slipped below the 10,100 mark in early trade Friday as the November derivatives series took off on a weak note amid negative Asian cues.

The 30-share Sensex, which lost 344 points Thursday, fell further by 297.40 points, or 0.88 per cent, to 33,392.69.

All sectoral indices of BSE, led by metal, power, realty and bankex were trading in the negative territory, falling by up to 1.63 per cent.

The NSE Nifty too declined by 101.45 points, or 1 per cent, to 10,023.45.

Brokers said despite the beginning of the November futures and options (F&amp;O) series, investors indulged in selling activity, tracking a weak trend at other Asian markets.

Besides, disappointing quarterly earnings by Maruti Suzuki and a few other companies also dampened sentiments.

Meanwhile, on a net basis, foreign funds sold shares worth Rs 1,495.71 crore, while domestic institutional investors bought shares to the tune of Rs 339.60 crore Thursday, provisional data showed.

In the Sensex pack besides, Tata Steel, Tata Motors, Adani Ports, Reliance, the rest of the companies were trading in the negative territory.

Major losers were Yes Bank, NTPC, Asian Paints, Vedanta Ltd, Bharti Airtel, TCS, Coal India, Infosys, Maruti Suzuki, Kotak Bank, ITC Ltd, M&amp;M, HUL, ICICI Bank, PowerGrid, Wipro, ONGC, HDFC Ltd, HDFC Bank, Sun Pharma, Bajaj Auto, L&amp;T, SBI, IndusInd Bank and Axis Bank, falling up to 6 per cent.

However, Tata Motors and Adani Ports emerged gainers in the Sensex kitty, rising up to 1.81 per cent.

Notwithstanding a positive lead from Wall Street after the sold corporate earnings, a weak trend in Asian markets led by Japan accelerated selling activity at the domestic bourses here, market analysts added.

In the Asian region, Japan's Nikkei fell 1.39 per cent, Shanghai Composite index fell 0.58 per cent, Hong Kong's Hang Seng dropped 1.46 per cent. Taiwan too down 1.14 per cent in their early sessions.

The US Dow Jones Industrial Average ended 1.63 per cent higher Thursday.&nbsp;

The benchmark Sensex plunged over 297 points and the broader NSE Nifty slipped below the 10,100 mark in early trade Friday as the November derivatives series took off on a weak note amid negative Asian cues.

The benchmark Sensex plunged over 297 points and the broader NSE Nifty slipped below the 10,100 mark in early trade Friday as the November derivatives series took off on a weak note amid negative Asian cues. The 30-share Sensex, which lost 344 points Thursday, fell further by 297.40 points, or 0.88 per cent, to 33,392.69. All sectoral indices of BSE, led by metal, power, realty and bankex were trading in the negative territory, falling by up to 1.63 per cent. The NSE Nifty too declined by 101.45 points, or 1 per cent, to 10,023.45. Brokers said despite the beginning of the November futures and options (F&O) series, investors indulged in selling activity, tracking a weak trend at other Asian markets. Besides, disappointing quarterly earnings by Maruti Suzuki and a few other companies also dampened sentiments. Meanwhile, on a net basis, foreign funds sold shares worth Rs 1,495.71 crore, while domestic institutional investors bought shares to the tune of Rs 339.60 crore Thursday, provisional data showed. In the Sensex pack besides, Tata Steel, Tata Motors, Adani Ports, Reliance, the rest of the companies were trading in the negative territory. Major losers were Yes Bank, NTPC, Asian Paints, Vedanta Ltd, Bharti Airtel, TCS, Coal India, Infosys, Maruti Suzuki, Kotak Bank, ITC Ltd, M&M, HUL, ICICI Bank, PowerGrid, Wipro, ONGC, HDFC Ltd, HDFC Bank, Sun Pharma, Bajaj Auto, L&T, SBI, IndusInd Bank and Axis Bank, falling up to 6 per cent. However, Tata Motors and Adani Ports emerged gainers in the Sensex kitty, rising up to 1.81 per cent. Notwithstanding a positive lead from Wall Street after the sold corporate earnings, a weak trend in Asian markets led by Japan accelerated selling activity at the domestic bourses here, market analysts added. In the Asian region, Japan's Nikkei fell 1.39 per cent, Shanghai Composite index fell 0.58 per cent, Hong Kong's Hang Seng dropped 1.46 per cent. Taiwan too down 1.14 per cent in their early sessions. The US Dow Jones Industrial Average ended 1.63 per cent higher Thursday.

Sensex tanks 297 points as November F&O series opens weak

The rupee weakened by 17 paise to 73.44 against the US dollar in early trade Friday, amid increased demand of the American currencies from importers and sustained foreign fund outflows.

Traders said the US dollar's strength against some currencies overseas and a lower opening in the domestic equity markets also weighed on the local unit.

On Thursday, the local currency had depreciated by 11 paise to close at 73.27 against the US dollar due to steady capital outflows and sharp decline in domestic equities amid intensifying geopolitical tensions.

Meanwhile, on a net basis, foreign funds sold shares worth Rs 1,495.71 crore, while domestic institutional investors bought shares to the tune of Rs 339.60 crore Thursday, provisional data showed.

The benchmark BSE Sensex fell 157.17 points, or 0.47 per cent to 33,532.92 in early trade Friday.

The rupee weakened by 17 paise to 73.44 against the US dollar in early trade Friday, amid increased demand of the American currencies from importers and sustained foreign fund outflows.

The rupee weakened by 17 paise to 73.44 against the US dollar in early trade Friday, amid increased demand of the American currencies from importers and sustained foreign fund outflows. Traders said the US dollar's strength against some currencies overseas and a lower opening in the domestic equity markets also weighed on the local unit. On Thursday, the local currency had depreciated by 11 paise to close at 73.27 against the US dollar due to steady capital outflows and sharp decline in domestic equities amid intensifying geopolitical tensions. Meanwhile, on a net basis, foreign funds sold shares worth Rs 1,495.71 crore, while domestic institutional investors bought shares to the tune of Rs 339.60 crore Thursday, provisional data showed. The benchmark BSE Sensex fell 157.17 points, or 0.47 per cent to 33,532.92 in early trade Friday.

Rupee falls 17 paise to 73.44 against US dollar in early trade

Wall Street was back in aggressive sell-off mode on Friday, with major stock indices losing more than two per cent following disappointing earnings announcements from Amazon and Google parent Alphabet.

Near 1455 GMT, the Dow Jones Industrial Average was down 2.1 per cent at 24,470.18.

The broad-based S&amp;P 500 shed 2.8 per cent to 2,631.14, while the tech-rich Nasdaq Composite Index tumbled 3.4 per cent to 7,066.69.

Wall Street was back in aggressive sell-off mode on Friday, with major stock indices losing more than two per cent following disappointing earnings announcements from Amazon and Google parent Alphabet.

Wall Street was back in aggressive sell-off mode on Friday, with major stock indices losing more than two per cent following disappointing earnings announcements from Amazon and Google parent Alphabet. Near 1455 GMT, the Dow Jones Industrial Average was down 2.1 per cent at 24,470.18. The broad-based S&P 500 shed 2.8 per cent to 2,631.14, while the tech-rich Nasdaq Composite Index tumbled 3.4 per cent to 7,066.69.

US stocks losses deepen amid tech selloff; Dow -2.1%, Nasdaq: -3.4%

Asian shares wobbled in early Friday trade, struggling to shake off the previous day`s global markets rout, after weak results from tech giants Alphabet Inc and Amazon.com heightened concerns over world trade and economic growth.

The shaky start for regional bourses came despite a bounce on Wall Street overnight, which was helped by bargain-hunting and positive earnings from Microsoft Corp.&nbsp;

Those gains were put into perspective, however, as shares of both Amazon.com Inc and Alphabet Inc fell sharply after the closing bell on disappointing earnings.&nbsp;

Predictably, the Nasdaq futures turned down 0.9 per cent and S&amp;P E-mini futures fell 0.6 per cent, underscoring broad worries about US corporate earnings, and the outlook for the economy, which triggered a rout on Wall Street on Wednesday and sent global markets into a tailspin.&nbsp;

In Asia, MSCI`s broadest index of Asia-Pacific shares outside Japan was flat after pushing slightly lower in the opening hour.&nbsp;

The index has been bruised by a heavy sell-off in the past several days, tumbling more than 3 per cent this week.

South Korea`s Kospi was also down 0.6 per cent, and Australia`s shares were hanging on to modest gains of 0.2 per cent. Japan`s Nikkei stock index was the biggest gainer, up 0.5 per cent, though that only partially erased Thursday`s 3.7 per cent slide.

Financial markets have been whipsawed in recent sessions on concerns over global growth as investors fretted over Sino-U.S. trade frictions, a mixed bag of US corporate earnings, Federal Reserve rate hikes and Italian budget woes. A slowdown in China has been particularly worrying for policy makers and investors, hitting asset markets from stocks to currencies and commodities.&nbsp;

Analysts at Capital Economics sounded a cautious note, suggesting that the bounce in the S&amp;P 500 index on Thursday was only temporary as investors worries about the economic outlook worsen.

"The first, and most important (worry) is that Fed tightening and fading fiscal stimulus will cause the US economy to take a turn for the worse ... The second is that China`s economy will continue to struggle," the analysts said in a note to clients.&nbsp;

"As we have been arguing for a while now, these worries are likely to get worse over the next twelve months or so."&nbsp;

Investors will get a chance to check the US economic pulse later Friday when the government releases third-quarter GDP data.&nbsp;

ANZ analysts highlighted weak US core durable goods data as suggesting that "investment is not taking off, even with the apparent tailwind from tax cuts and USD repatriation."

"This indicates that the boost to GDP growth from the fiscal stimulus could be fairly transitory," the analysts said.

In currency markets, the euro edged lower, extending weakness after European Central Bank President Mario Draghi said the bank`s 2.6 trillion euro ($2.96 trillion) asset purchase program will end this year and interest rates could rise after next summer, despite fears about the monetary union`s economic and political future.

The single currency was 0.04 per cent lower at $1.1370.

The dollar dropped 0.1 per cent against the yen to 112.29. The dollar index, which tracks the greenback against a basket of six major rivals, was also 0.1 per cent lower at 96.594.

The yield on benchmark 10-year Treasury notes rose to 3.1073 per cent compared with its US close of 3.136 per cent on Thursday.&nbsp;

Oil prices gave up some ground after earlier rising on signals from Saudi Arabia`s energy minister that there could be a need for intervention to reduce oil stockpiles.

US crude dipped 0.85 percent at $66.76 a barrel. Brent crude fell 0.6 per cent to $76.43 per barrel.&nbsp;

Spot gold was flat at $1,231.75 per ounce.&nbsp;

Asian shares wobbled in early Friday trade, struggling to shake off the previous day`s global markets rout, after weak results from tech giants Alphabet Inc and Amazon.

Asian shares wobbled in early Friday trade, struggling to shake off the previous day`s global markets rout, after weak results from tech giants Alphabet Inc and Amazon.com heightened concerns over world trade and economic growth. The shaky start for regional bourses came despite a bounce on Wall Street overnight, which was helped by bargain-hunting and positive earnings from Microsoft Corp. Those gains were put into perspective, however, as shares of both Amazon.com Inc and Alphabet Inc fell sharply after the closing bell on disappointing earnings. Predictably, the Nasdaq futures turned down 0.9 per cent and S&P E-mini futures fell 0.6 per cent, underscoring broad worries about US corporate earnings, and the outlook for the economy, which triggered a rout on Wall Street on Wednesday and sent global markets into a tailspin. In Asia, MSCI`s broadest index of Asia-Pacific shares outside Japan was flat after pushing slightly lower in the opening hour. The index has been bruised by a heavy sell-off in the past several days, tumbling more than 3 per cent this week. South Korea`s Kospi was also down 0.6 per cent, and Australia`s shares were hanging on to modest gains of 0.2 per cent. Japan`s Nikkei stock index was the biggest gainer, up 0.5 per cent, though that only partially erased Thursday`s 3.7 per cent slide. Financial markets have been whipsawed in recent sessions on concerns over global growth as investors fretted over Sino-U.S. trade frictions, a mixed bag of US corporate earnings, Federal Reserve rate hikes and Italian budget woes. A slowdown in China has been particularly worrying for policy makers and investors, hitting asset markets from stocks to currencies and commodities. Analysts at Capital Economics sounded a cautious note, suggesting that the bounce in the S&P 500 index on Thursday was only temporary as investors worries about the economic outlook worsen. "The first, and most important (worry) is that Fed tightening and fading fiscal stimulus will cause the US economy to take a turn for the worse ... The second is that China`s economy will continue to struggle," the analysts said in a note to clients. "As we have been arguing for a while now, these worries are likely to get worse over the next twelve months or so." Investors will get a chance to check the US economic pulse later Friday when the government releases third-quarter GDP data. ANZ analysts highlighted weak US core durable goods data as suggesting that "investment is not taking off, even with the apparent tailwind from tax cuts and USD repatriation." "This indicates that the boost to GDP growth from the fiscal stimulus could be fairly transitory," the analysts said. In currency markets, the euro edged lower, extending weakness after European Central Bank President Mario Draghi said the bank`s 2.6 trillion euro ($2.96 trillion) asset purchase program will end this year and interest rates could rise after next summer, despite fears about the monetary union`s economic and political future. The single currency was 0.04 per cent lower at $1.1370. The dollar dropped 0.1 per cent against the yen to 112.29. The dollar index, which tracks the greenback against a basket of six major rivals, was also 0.1 per cent lower at 96.594. The yield on benchmark 10-year Treasury notes rose to 3.1073 per cent compared with its US close of 3.136 per cent on Thursday. Oil prices gave up some ground after earlier rising on signals from Saudi Arabia`s energy minister that there could be a need for intervention to reduce oil stockpiles. US crude dipped 0.85 percent at $66.76 a barrel. Brent crude fell 0.6 per cent to $76.43 per barrel. Spot gold was flat at $1,231.75 per ounce.

Asian shares struggle to shake off rout despite Wall Street bounce